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Tonight - the vice presidential candidates go head to head in their one and only debate.

I may not answer the questions the way that either the moderator or you want to hear but I'm gonna
talk straight to the American people and let them know my track record also.

No-one can deny that the last eight years we've been dug

A very deep hole at home in terms of our economy and abroad in terms of our credibility and there's
a need for fundamental change on our economic philosophy as well as our foreign policy. Good
evening, welcome to Lateline. I'm Leigh Sales. Television executives in the United States were
expecting at least 50 million Americans to watch today's vice presidential debate. Snap polls were
taken straight after the event and viewers gave a narrow victory to the Democrat Joe Biden but the
Republican Sarah Palin also impressed as her running mate John McCain slips in the polls. Joining
Lateline live from Washington to discuss the debate and the latest on the bail-out package is news
weak's senior correspondent Richard Wolffe. First our other headlines. Lacks inspection standard on
imported foods threaten Australian consumers. The price of fame, a new documentary explores the
rise and fall of Lionel Rose and the case of the lost millionaire.

Palin pulls off VP debate

Palin pulls off VP debate

Broadcast: 03/10/2008

Reporter: Mark Simkin

The debate between Sarah Palin and Joe Biden today was a chance for the US vice-presidential
candidates to showcase their strengths. While Senator Biden relied on his experience and grasp of
policy, Senator Palin was keen to promote her 'hockey mum' persona.

Transcript

LEIGH SALES, PRESENTER: Sarah Palin's had a string of damaging interviews with the media, but today
she defied her critics and expectations by escaping the vice-presidential debate without committing
a serious gaffe. But her far more experienced rival, Democrat Joe Biden, showed a better grasp of
policy and early polls suggest he won the contest.

Washington correspondent Mark Simkin reports.

MARK SIMKIN, REPORTER: It was the most anticipated vice-presidential debate on record. A high
stakes, high rating, high pressure showdown. Both nominees will soon have sons fighting in Iraq,
making this exchange personal.

SARAH PALIN, REPUBLICAN VICE PRESIDENTIAL CANDIDATE: But we're getting closer and closer to
victory, and it would be a travesty if we quit now in Iraq.

JOE BIDEN, DEMOCRATIC VICE PRESIDENTIAL CANDIDATE: We will end this war. For John McCain, there is
not end in sight to end this war.

MARK SIMKIN: Sarah Palin hasn't held a press conference since being picked, but the Republican
couldn't avoid the questions this time, although she tried.

JOE BIDEN: The Governor did not answer the question about deregulation.

SARAH PALIN: I may not answer the questions the way that either the moderator or you want to hear,
but I'm gonna talk straight to the American people and let 'em know my track record also.

MARK SIMKIN: The Governor stuck to her talking points, only made minor stumbles and played up her
folksy style.

SARAH PALIN: Say it aint so, Joe. There you'll go again, pointing backwards again, though. You
prefaced your whole comment with, "the Bush administration". Now, doggone it. Joe Six Pack, hockey
moms across the nation. Darn right we need tax relief.

MARK SIMKIN: They clashed over economic policy, but were united in criticising the Bush
administration.

JOE BIDEN: The economic policies of the last eight years have been the worst economic policies
we've ever had.

MARK SIMKIN: The much more experienced Democrat played it safe. He's got a reputation for verbal
slips and the McCain camp knows it. There weren't any gaffes tonight, but there was emotion.

JOE BIDEN: The notion that somehow because I'm a man I don't know what it's like to raise two kids
alone. I don't know what it's like to have a child you're not sure is gonna make it. I understand,
I understand.

MARK SIMKIN: Sarah Palin exceeded low expectations. The Governor stumbled in recent TV interviews
and polls suggest 60 per cent of Americans don't think she's qualified to be an effective president
if required. Even some conservative commentators urged her to drop out of the race. The debate will
reassure nervous Republicans, but it's unlikely to convince the independent voters who are turning
to the Democrats.

Mark Simkin, Lateline.

McCain hands Michigan to Obama

McCain hands Michigan to Obama

Broadcast: 03/10/2008

Reporter: Leigh Sales

John McCain has pulled his campaign resources from Michigan, effectively handing the state to his
opponent Barack Obama.

Transcript

LEIGH SALES, PRESENTER: Following that debate came news that John McCain has pulled his campaign
resources from Michigan, one of the battleground states expected to decide the presidency. The move
effectively concedes Michigan to his Democrat opponent, Barack Obama.

The McCain campaign is well behind the Obama campaign in finances, so it's diverting staff to other
important states like Wisconsin and Pennsylvania that McCain has a better chance of winning.

MICHIGAN VOTER: Well, I think it's a sign that he's losing a lot of momentum and that if Michigan
is a battleground state and he's essentially given up on it, it's not a good sign, you know. I
mean, you wonder if it's the first one of the dominos that may start falling.

LEIGH SALES: Michigan has voted Democrat in presidential campaigns since 1992, but Republicans had
been hopeful of reversing that this year.

Bailout decision edging closer

Bailout decision edging closer

Broadcast: 03/10/2008

Reporter: Michael Rowland

As US Congress vote on the $US700 million draws closer, there are fears that the credit crisis is
spreading far beyond Wall Street.

Transcript

LEIGH SALES, PRESENTER: In the United States, tension is building as the $US700 billion ($840
billion) financial rescue package approaches its final vote in the Congress. The stock market
plunged on fears the bailout may once again be struck down by the House of Representatives and
there are concerns the credit crisis is spreading far beyond Wall Street.

North America correspondent Michael Rowland reports from New York.

MICHAEL ROWLAND, REPORTER: It's a volatile time in New York's financial district and not just on
the stock exchange floor. Protests against the $US700 billion bailout have been an almost daily
event.

PROTESTOR: I'm sure all over the United States Americans right now are rising up and saying, "What
is going on?"

MICHAEL ROWLAND: The government rescue was aimed at restoring stability to Wall Street and traders
say it can't happen a moment too soon.

TED WEISBERG, STOCK TRADER: Not only is it important because it will help fix some of the real
problems that we're dealing with, but hopefully it'll also inject confidence back into the
financial markets.

MICHAEL ROWLAND: Ted Weisberg has been trading stocks here for more than 40 years. He says he's
rarely seen market nerves so raw.

TED WEISBERG: On a day-to-day basis, human emotion probably has a lot to do with the pricing of
stock and because that's so, it's my feeling that there is no such thing as a rationally priced
stock and there's no such thing as a rationally priced stock market. There is nothing rational
about the business of trading stocks. So much of it is perception based on confidence, and that's
one of the issues that we're dealing with now and that's why this bill is so important.

MICHAEL ROWLAND: The anxiety is extending well beyond Wall Street. Unemployment claims have risen
to a seven-year high and the deepening credit crisis is engulfing businesses, big and small.
Sandwich store owner Joseph McKenna is struggling to get the cash he needs to pay for supplies and
staff.

JOSEPH MCKENNA, STORE OWNER: Oh, it's very hard 'cause you gotta pay the bills and then you gotta
pay off that so you can re-use it again or you get charged high interest rates. It's expensive.

MICHAEL ROWLAND: At the same time, Mr McKenna says sales have dropped 20 per cent and cash-strapped
New Yorkers have stopped splashing out.

JOSEPH MCKENNA: Go for the cheapest thing; that's all they care about right now. But before, they
used to go for a lot of my higher end stuff, which I make more money off of and better sandwiches,
but their going for the more toned-down sandwiches now because it's cheap.

MICHAEL ROWLAND: It's clear the financial problems are starting to hurt an already weakened US
economy. That's why it's not just those on Wall Street who are holding their breath as the rescue
package comes up for a final vote.

Michael Rowland, Lateline.

Richard Wolffe joins Lateline

Richard Wolffe joins Lateline

Broadcast: 03/10/2008

Reporter: Leigh Sales

Senior White House correspondent with Newsweek, Richard Wolffe, joins Lateline to discuss the
latest in US presidential election campaigns.

Transcript

LEIGH SALES, PRESENTER: Joining me live from Washington is Richard Wolffe, the senior White House
correspondent for Newsweek.

Richard Wolffe, I'll come to the bailout package shortly, but if I could start first of all with
the vice-presidential debate that everyone's talking about, there's been a bit of gloom among
conservatives about some of Sarah Palin's recent performances. Has morale been lifted by how she
went in the debate?

RICHARD WOLFFE, NEWSWEEK'S SENIOR WHITE HOUSE CORRESPONDENT: Well, Leigh, their mood has been
lifted by the debate, but it's a different sort of bar to where they were before. Sarah Palin was
very effective on TV. She used to work in TV and she used several devices, tricks, methods for
really connecting with the audience, looking straight into the camera, winking occasionally and she
had this very folksy style of delivery. But there's a difference between surviving the debate,
rescuing her own reputation and what the McCain campaign really needs, which is to rescue that
campaign's fortunes and change the dynamic of the campaign.

Sarah Palin was only a piece of the problem facing John McCain. Actually, what's been much more
devastating for them is the Senator's response to the economic crisis, the way the polls have
declined sharply for them over the last two or three weeks and that's what's really depressing
Republicans. So, a good solid performance by Sarah Palin beating expectations, but not enough to
change the course of this campaign.

LEIGH SALES: You mentioned her looking straight down the barrel of the camera. Joseph Biden spent
most of the debate looking off to the moderator, Gwen Eiffel, so he lost that appearance that he
was talking directly to Americans, directly to the viewers. Do little subtleties of technique and
style like that really make much of a difference in terms of the way voters perceive the
candidates?

RICHARD WOLFFE: Well, he did a bit of both, but actually the overnight polls, the instant polls,
really gave a fairly clear margin of victory to Joe Biden by double digits and among undecided
voters, a CBS poll actually gave him a 20-point-plus lead. So, he did pretty well with the real
target audience here and that's a big contrast between the two. Joe Biden's bar was much higher. He
was really trying to prove that he could serve as president, that he has a sort of presidential
aura to him that would qualify him to be vice-president. Sarah Palin was trying to again rescue her
reputation after those disastrous TV interviews she's been doing.

So there was a difference in what they were shooting for and Biden avoided all of his own pitfalls.
He was knowledgeable without seeming pompous, he wrapped up his comments as opposed to just
rambling on without end. So, he did what he had to do and the target here is not the base of each
party, about riling up Republicans or Democrats depending on which candidate you are, the target
here is uncommitted voters, undecided, independent, loosely partisan voters who are now focusing in
on this campaign trying to decide which candidate to go for, which ticket to go for. And in that
sense, both Obama in the last debate and Biden in this one, at least according to these instant
polls, actually did the job they had to do.

LEIGH SALES: You spoke in some detail about Joseph Biden's performance. How would you describe
Sarah Palin's?

RICHARD WOLFFE: Well, on questions she was confident and spirited. She was able to connect with a
TV audience very effectively. Her debating style was different from other politicians and I suspect
that's partly intentional and partly out of necessity. There were moments when she portrayed
herself very effectively as a new face, someone outside of Washington and certainly her speaking
style, her folksy style, connected in that sense with that image. But there were other times when
she veered wildly off subject in a tangential way, answering questions that were never raised on
subjects that weren't even vaguely related. But, if you weren't paying attention it sounded just
fine.

And one point about the folksy style, Joe Biden also is a folksy politician. He comes from
Wilmington, Delaware, grew up in Pennsylvania as well and his style was really much geared towards
those swing voters in Pennsylvania. So he referred to his hometown, his birth town of Scranton.
Scranton is very much like Ohio, these contested area in the old rust belt where the two campaigns
are really duking it out. Where Sarah Palin was folksy was about Alaska, was about parts of the
country that are solidly Republican, that really aren't up for grabs. So they were speaking to
different audiences in their folksy style, even. Joe Biden going for those swing states,
battleground states; Sarah Palin really speaking to her base.

LEIGH SALES: The McCain campaign has announced that it's scaling down its operations in Michigan,
which has been one of the battleground states and it's basically a concession that they're giving
up hope there. How significant is that announcement?

RICHARD WOLFFE: Well, both of these campaigns are scaling back in certain states, but the big
difference is that where Obama has scaled back, they're in really smaller states representing less
votes in the electoral college that ultimately decides this election, places like North Dakota,
Georgia, Alaska as well. Michigan is a much bigger deal, it is a much bigger state and not only
represents more votes in the electoral college, but was a key piece of the McCain strategy to peel
off not just a Democratic state but hit certain target groups, especially on the economy where
there is a Democratic governor in Michigan who's been struggling with a very, very tough economy in
the manufacturing sector and also a state where Hillary Clinton did very well.

So they were trying to pick off disgruntled Clinton supporters who haven't reconciled themselves to
Obama. The fact that those two strategies on the economy and appealing to Clinton voters did not
work in Michigan does not bode well for McCain in other states that are similar like Pennsylvania,
like Wisconsin where McCain is still competing and also in Ohio which was a Republican State where
Obama has, according to the last polls, a very slender lead. So, if you're not winning Clinton
voters and working folks in those states, then McCain has a very, very narrow track to victory.

LEIGH SALES: When you look at the polls in all of the various battleground states, how are things
shaping up on average between Obama and McCain?

RICHARD WOLFFE: Well, no question the polls have been pretty consistent over the last two or three
weeks. Obama has an edge and a fairly significant edge of four, five, six points nationally. In
some of these battleground states - of course it is a state-by-state election - in some of these
battleground states, he is surprisingly competitive in Republican states in places like Virginia,
North Carolina, Ohio and his field, Obama's field of play is much bigger on Republican states than
McCain is in Democratic states.

McCain has a handful of places like New Hampshire, Pennsylvania and Wisconsin where he's still
trying to edge out Obama. These are states that John Kerry won four years ago. But in all of those
states, he's behind. So this country is still more favourably leaning towards the Democrats and
Barack Obama.

LEIGH SALES: And how does where those polls are compare to past elections? Is it still anybody's to
win or is the position that Obama's in now a commanding position?

RICHARD WOLFFE: You know, a month is a long time and of course in other countries, a month is the
entire span of the election. Lots of things can happen. The question is does the financial crisis
and these early debates, have they really shaped the dynamic of this closing period, or are there
more twists to come? Is there another external event? Four years ago, when it was still very close,
there was a tape from Osama bin Laden that changed the dynamic in the last couple of weeks.

But still, four years ago, there was only one window when John Kerry took a slight lead. He did
well in the middle of the debates, he had a strong performance in the middle of the debate and then
it all faded away. He had a strong moment when he picked his vice-presidential nominee, John
Edwards, four years ago and then it all faded away. What we're really seeing here is a sort of
mirror image of that, where McCain has had a couple of moments where he's edged ahead, notably
after he picked Sarah Palin. He has not been able to sustain any lead for any length of time and
the trend has always come back to Obama and the Democrats. So, it's hard to see how that changes
now, given the scale of the crisis, especially the financial crisis, that we've just been through.

LEIGH SALES: I was reading today some comments that the McCain campaign might be about to unleash
the mother of all negative campaigns against Obama. Are you anticipating that?

RICHARD WOLFFE: Yeah, I think many people are. They are trying to conserve resources and focus them
in. There's only one thing left for them to do which is to go instead of 60 or 70 per cent
negative, go 100 per cent negative. It's not clear what new negative things they could say. The
obvious thing for them to do is to talk about Obama's links to his former pastor, Reverend Jeremiah
Wright who said many controversial and offensive things about America. Those things were heavily
aired and debated through the Democratic primaries, so in a way they've lost their shock value. But
still, you know, negative advertising does work and if you think you're going down to defeat or
that's a realistic prospect, then of course that's a strategy you're gonna go towards so that's why
many people in Washington think the McCain campaign is heading in that direction.

LEIGH SALES: The next debate between the two presidential contenders is next week. What do you
think McCain needs to do in the debate to try to make up some of this ground?

RICHARD WOLFFE: Well, the next debate is a tough format to make up ground. It's a town hall format
where the candidates are taking questions from members of the audience. People tend to tone down
their comments when regular people, voters are posing the questions. Although I'm sure they will
still try and land punches on each other. McCain has a particular problem in that people sensed he
was too negative, too aggressive, maybe too sarcastic in the first debate. So I think the actual
focus for him to try and change the dynamic will come in the final debate which is a more
traditional thing where the two candidates are just gonna be going head-to-head with a moderator, a
journalist, between them. So, the next one's gonna be hard, but he certainly needs to do something
to shake it up and the debates are really all he has left.

LEIGH SALES: Richard Wolffe, if we could turn to the Wall Street bailout package and the vote
that's expected today your time in the US House of Representatives: the markets are still clearly
nervous that it may not get through. Do we have any idea how the numbers are shaping up?

RICHARD WOLFFE: Well, there is the expectation that the Administration and the leadership in the
House of Representatives has got enough votes, have peeled off the 12 or so that they failed to get
last time, mostly through adding all sorts of pork barrel spending, sweeteners to this legislation
to pull people in, something they promised not to do in fact and that John McCain and Barack Obama
said should not happen. But still, that's where they're at. They think they have the votes, but
given what happened last time, there is that nervousness that this will go through. And I think as
well the markets are nervous frankly about whether this is enough. I mean, nobody really knows the
scale of this problem. Is $700 billion enough? Is it too much? You know, there is a question mark
over whether this is the right approach, whether or not it goes through. So the nervousness I
expect will continue for many, many weeks.

LEIGH SALES: Members of Congress have obviously been scared that taxpayers resent having to bail
out the so-called fat cats of Wall Street. Do we know yet have there been any polls done on public
opinion towards the bailout? Do we know the facts yet of what the American people think of this?

RICHARD WOLFFE: Yeah, there's been extensive polling and actually, a lot depends on how you phrase
it, whether you call it a bailout or a rescue or as the Administration is increasingly calling it,
a sort of investment in these assets which they expect to sell back at something of a profit for
the taxpayer. But, even if you call it a bailout, opinion is pretty evenly divided, it's pretty
much 50-50. There's a fair chunk of people who actually don't know, but public opinion has been
characterised by a lot of populist politicians saying everyone's opposed to this kind of thing. In
fact, it is evenly divided, people are concerned about seeing banks collapse, they're certainly
concerned about seeing the stock market collapse as it did earlier this week when the House voted
down the whole package.

So public opinion is split and actually that's the worst possible scenario for members of Congress
'cause if it's one way or another, they tend to go according to those polls. When it's divided,
anything can happen, and I suspect the markets are picking that up and that's why they're nervous
too.

LEIGH SALES: Richard Wolffe from Newsweek, it's always a pleasure to have you on the program.
Thanks so much.

RICHARD WOLFFE: Thankyou.

Concerns raised over safety of food imports

Concerns raised over safety of food imports

Broadcast: 03/10/2008

Reporter: John Stewart

Another milk product is being removed from supermarkets over concerns it contains melamine. Critics
say it is only a matter of time before more imported foods pose health risks.

Transcript

LEIGH SALES, PRESENTER: A fourth imported food product from China has tonight been recalled from
Australian supermarket shelves. Kirin Milk Tea has been withdrawn by importers and wholesalers,
concerned that it may contain the industrial chemical melamine. Australia's Food Safety Authority
says local food testing procedures are working well, but critics say it's only a matter of time
before more imported foods pose new health risks.

John Stewart reports.

JOHN STEWART, REPORTER: This is the latest imported Chinese food product to be withdrawn from
Australian supermarket shelves: Kirin Milk Tea. Consumers are advised not to drink it and keep the
tea away from children. It's the fourth imported food item from China to be withdrawn from
Australian supermarkets. Australia's Food Safety Authority says that local food safety procedures
are working.

LYDIA BUCHTMANN, FOOD STANDARDS AUSTRALIA & NEW ZEALAND: Products have been withdrawn voluntarily.
This is a great system in Australia and it's working really well.

JOHN STEWART: Last year, nearly 4,000 pets died in the United States after eating pet food
contaminated with melamine from Chinese ingredients. The retail grocers' association says the
warning signs about melamine contamination have been around for over a year and Australian
authorities should have moved faster.

JOHN CUMMINGS, NATIONAL ASSOCIATION OF RETAIL GROCERS: It was not only pet food, it was also food
that was made for human consumption. They, the FDA, brought this to the American people's attention
in April of 2007.

JOHN STEWART: The Australian Consumers Association wants Australia's food testing authorities to
place greater emphasis on targeting foods from specific countries.

CHRISTOPHER ZINN, AUSTRALIAN CONSUMERS' ASSOCIATION: In America, the food and drug administration
will test 100 per cent of shipments of certain species of farmed seafood where there's been a
problem in the past. Now, we would like to see similar provisions here.

JOHN STEWART: But Food Standards Australia insists local safety procedures are on track.

LYDIA BUCHTMANN: I think we're very lucky to live in this country, we have such a really good food
safety system that's working really well.

JOHN STEWART: So far, there are no reports of Australians becoming ill from eating any of the four
withdrawn products.

LYDIA BUCHTMANN: Our advice for consumers is don't consume the white rabbit lollies or the koala
biscuits, do dispose of them safely. But if you have eaten them, look, it's not a long-term - it's
not a major safety risk.

JOHN CUMMINGS: Is there a safe level of ingestion of this? I don't believe there is. If there's a
safe ingestion level of rat droppings, do I want to get my diet up to a point where I'm eating up
to the safe ingestion level of rat droppings? I don't think so.

JOHN STEWART: The Australian Consumers Association says the globalisation of food industries is
producing big challenges for food safety authorities, especially when it comes to monitoring
pesticides.

CHRISTOPHER ZINN: In this globalised world, when you're getting asparagus from Peru, no end of
things from all over the world where there's lot less compliance, a lot less regulation. It's not
unlikely that we might have problems with the residues.

JOHN STEWART: Today, Chinese milk products were still being withdrawn from supermarkets throughout
the world and the signs are that more products may yet be recalled.

John Stewart, Lateline.

Stephen Long joins Lateline

Stephen Long joins Lateline

Broadcast: 03/10/2008

Reporter: Leigh Sales

Economics correspondent Stephen Long discusses the latest in the global financial situation and its
effect on the Australian market

Transcript

LEIGH SALES, PRESENTER: It's been a wild week on the Australian and world markets, with sentiment
shifting between exuberance and despair as Congress dithered over the bailout package. By tomorrow
morning, we should know if the US House of Representatives has passed the $US700 billion Wall
Street bailout, and with me to discuss all of that is our economics correspondent Stephen Long.

Stephen, passing the bailout is one thing, but will it work?

STEPHEN LONG, ECONOMICS CORRESPONDENT: It's a band-aid, not a cure, Leigh. And if you want an
indication of what the people in the markets think, just have a look at the money market rates.
Some have soared to record levels in Europe, others are near record levels, the key interbank
lending rates are high. So the credit markets are still locked down and increasingly worrying too
are credit lines to major corporates either being withdrawn or having a huge premium put on the
prices.

Now, there's a number of things that flow from that. It shows that banks are still fearful about
lending money to other banks because they don't know who the next bank is that's going to fail and
given that there've been six banks bailed out by governments over the past week, you can perhaps
understand that. And it also shows that the tensions are spilling over from the financial economy
into the real economy in a pretty big way now.

LEIGH SALES: There seems to be a growing concern that this may not be enough to actually stop a
recession.

STEPHEN LONG: The US, Europe, London, England, Japan, they're all headed for recession. They're all
toppling into recession. The US pay roll numbers have come out just a few moments ago and they show
that hours worked in the United States are at their lowest level since they began recording that
number in 1964 and the overall job numbers, 159,000 jobs destroyed in September. So there's your
strongest indicator of where the US is heading. Combine that with a housing collapse in America and
Europe which is destroying wealth together with the stock market dives, crashing confidence and
basically you've got an implosion in the key economies around the world.

Now, the interesting and somewhat worrying thing is that the financial crisis that's preceded this
has largely been driven out of excesses within the financial system itself. Now you've got a
combination of the financial system excess and a real meltdown in the major economies. So, I
suggest that you'll get a dynamic out of that and it could be quite worrying how far it heads. The
issue now isn't whether we get recession in those major economies, but how deep and long that
recession is.

LEIGH SALES: Right, well that all sounds pretty gloomy, so to what extent can Australia stay immune
from this?

STEPHEN LONG: Well, we're better off than just about anyone. The key issue really is how much China
gets hit. But Australia, even if we do manage to ride this out, we're looking at a big hit to
growth. The National Australia Bank has cut its forecast for interest rates, saying that the cash
rate set by the Reserve Bank will fall to 5.5 per cent - which is high compared to the rest of the
world - by April next year and that we'd be looking at unemployment going up to 6 per cent with
200-300,000 jobs gone in Australia.

So even if we maintain growth, things still aren't looking that good and if you look at the
composition of that growth, you're looking at a large share of it's still in the minerals economy,
in the farm sector. You look at the rest of the economy, you might be looking at growth of 1 per
cent.

LEIGH SALES: We had the Finance Minister Lindsay Tanner on the program last night and he said that
it was premature to be speculating about Australia going into recession. Do you agree with that?

STEPHEN LONG: Well, I think we can speculate about it because it's a real possibility, but I think
he's right to say that it's premature to draw a conclusion at this stage that we're headed in the
same way as many of the other major developed world economies. If anyone's gonna ride it out, we're
better placed than most.

LEIGH SALES: Stephen Long, put this gloom aside and go and have a good weekend.

STEPHEN LONG: I certainly will. You too, Leigh.

LEIGH SALES: Thanks, Stephen.

Film remembers Aussie boxing legend

Film remembers Aussie boxing legend

Broadcast: 03/10/2008

Reporter: Hamish Fitzsimmons

A documentary has been made about the extraordinary life of the 1968 world bantamweight champion
and the first Aborigine to be named Australian of the Year, Lionel Rose. The film will open in
cinemas this weekend.

Transcript

LEIGH SALES, PRESENTER: In his day, he was one of the most famous people in Australia, but Lionel
Rose's contribution to the sporting life of the nation has almost been forgotten. When he became
the world bantamweight champion in 1968, he was feted by Hollywood stars such as Elvis Presley and
became the first Aborigine to be named Australian of the Year. But his fall from grace was swift,
his celebrity couldn't protect him from brushes with the law and problems related to alcohol. Now a
documentary's been made about the extraordinary life of Lionel Rose and it opens in cinemas this
weekend.

Hamish Fitzsimmons reports.

HAMISH FITZSIMMONS, REPORTER: In a country that worships sporting success, Lionel Rose cast a
mighty shadow across the late 1960s. At 23 years old, he made history as the first Aboriginal world
champion by taking the title from its Japanese holder. Lionel Rose shot into another world. The new
world champion was courted by Hollywood and hung out with Elvis. In 1968, he became the first
Aboriginal Australian of the Year.

LIONEL ROSE, BOXER: Saw these people standing on top of the - up in the lounge area of the airport.
There must have been 500 just on the tarmac. The air hostess came down, I said, "Have you got the
Beatles or something up the front there?" And she said, "No. What are all these people doing here?"
She said, "These people are here to see you."

HAMISH FITZSIMMONS: Lionel Rose has inspired some of the country's most famous athletes,
particularly those with Aboriginal heritage, among them another boxing world champion.

ANTHONY MUNDINE, BOXER: Probably the best Australian fighter ever and hopefully he's set the bar
and hopefully I want to try and achieve that and surpass Lionel in the future. But he's definitely
an inspiration on that part for me.

HAMISH FITZSIMMONS: But for someone who was so fated at the height of his career, Lionel Rose is
often neglected where sporting titans like Sir Donald Bradman, Dawn Fraser or Rod Laver are
mentioned. The boxers story inspired Melbourne filmmaker Eddie Martin to make a documentary about
Lionel Rose before he disappeared from memory.

EDDIE MARTIN, FILMMAKER: He was such an important national figure but he just - he was just so
buried and forgotten, it seemed weird to me while this man was still alive - it was almost like he
was dead.

HAMISH FITZSIMMONS: Lionel Rose was seen as a boxer with style and a punishing left hook which is
still noted by those who look up to him.

ANTHONY MUNDINE: He was, you know, like I said, the most charismatic and the best fighter as far as
boxer to show the sweet science of boxing and I think that's very important.

HAMISH FITZSIMMONS: After boxing, Lionel Rose launched a successful career as a singer, topping the
charts. He steered clear of political and racial issues, instead devoting himself to helping others
away from the limelight.

ANTHONY MUNDINE: I didn't really get to, you know, to really look into Lionel's career until I got
to my early teens and then I really started to fall in love with the way he fought, the way he held
himself as a man.

HAMISH FITZSIMMONS: In the 1970s, brushes with the law and alcohol tarnished the star. To Eddie
Martin, Lionel Rose was, in a way, a victim of his own success.

EDDIE MARTIN: I just think Lionel kind of got really bad press. It's almost like AFL players now,
you know, we hear of them drinking too much or stuffing up and they really cop a battering by the
media. And I almost think he was in a way like the first person for that to really happen to.

HAMISH FITZSIMMONS: Last year, Lionel Rose had a stroke which badly affected his speech and
movement. This film, its director hopes, will preserve a great legacy.

EDDIE MARTIN: If there's one thing that I hope that this film achieves is that he does get some
recognition before he does pass away.

Hamish Fitzsimmons, Lateline.

Govt Plan to benefit artists and their families

Govt Plan to benefit artists and their families

Broadcast: 03/10/2008

Reporter: Eric Tlozek

The Federal Government have proposed a plan that would give artists the same rights to royalties
from their works as musicians.

Transcript

LEIGH SALES, PRESENTER: Artists may soon have the same rights to royalties from their work as
musicians. If a plan put forward by the Federal Government gets the go ahead, it would also mean
that the families of artists would benefit from future sales of their work.

Eric Tlozek reports.

ERIC TLOZEK, REPORTER: Arts Minister Peter Garrett was doing more than just browsing for Aboriginal
art in Alice Springs today. He announced plans to give artists 5 per cent of the price of any work
that sells for more than $1,000.

PETER GARRETT, FEDERAL ARTS MINISTER: This is a really good day for Australia's visual artists.
It's a good day, a very good day for Australia's Indigenous artists.

ERIC TLOZEK: The scheme, to be introduced to Parliament before the year's end, will give artists
royalties every time their work is resold. It will apply to new and existing works and will also
pay royalties to the families of deceased artists for 70 years. Indigenous art advocates say it
will be an important change for Aboriginal artists.

JOHN OSTER, DESART EXECUTIVE OFFICER: I think the change will be felt by artists, significantly,
but I don't think the change is going to affect the Australian art market significantly.

ERIC TLOZEK: There are fears from some vendors that the scheme will be hard to administer, but the
Minister says it won't push up the price of art or change how it's sold.

PETER GARRETT: The capacity for the art market to be able to deliver on a resale royalty scheme is
based on ease of administration and clarity about what is required.

ERIC TLOZEK: The royalty scheme is expected to be in place by July next year and will apply every
time artworks are resold after that.

Eric Tlozek, Lateline.

Remains found at Fossett crash site

Remains found at Fossett crash site

Broadcast: 03/10/2008

Reporter: Leigh Sales

Remains have been found with the wreckage of a plane belonging to missing US adventurer Steve
Fossett.

Transcript

LEIGH SALES, PRESENTER: Some remains have been found in the wreckage of a plane belonging to
missing adventurer Steve Fossett. The mangled debris was spotted from the air on a remote
Californian mountain. It was close to where a hiker stumbled on the millionaire's ID cards,
sparking a renewed search. Fossett was declared dead in February, five months after he went missing
during a solo flight from Nevada.

JOHN ANDERSON, MADERA COUNTY SHERIFF: They found enough wreckage to establish that it was in fact
an aircraft. They found a plate with the end number identifying it as the plane that belonged to Mr
Fossett.

RICHARD BRANSON, FRIEND: The most important thing is that the family know what's happened. He led
an extraordinary, absolutely remarkable life and now, you know, we can remember him for what he was
and move on.

LEIGH SALES: DNA tests will be carried out on a small piece of bone found at the crash site.

Now to the weather: That's all from us. If you'd like to look back at tonight's interview with
Richard Wolffe or review any of Lateline's stories or transcripts, you can visit our website at
abc.net.au/Lateline. Tony Jones is having some time off so I'll be back with you on Monday night.
See you then.